Mumbai, March 5 -- Australia's current account surplus surged to AUD 11.8 billion in Q4 2023 from a revised AUD 1.3 billion in Q3, marking the largest surplus since Q2 2022. The increase was driven by a rise in the trade surplus and a decline in the net primary income deficit. The balance of goods and services surplus rose to AUD 31.4 billion, boosted by mining commodity exports. The net primary account deficit also decreased, reaching the smallest deficit since Q3, amid reduced profits on foreign direct investment. The net secondary income deficit narrowed as well.
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